Bashneft repurchased 14.59 thousands of its shares during reorganization

JSOC Bashneft bought from shareholders who disagreed with the reorganization of the company through the merging with CJSC "Bashneft -Invest" or did not participate in the voting on this issue, 14,59 thousand ordinary shares. The transaction took place on April 10, Bashneft reports.

The repurchase price of the ordinary shares was approved by the Board of Directors of Bashneft on December 17 at 1983 rubles per security.

Bashneft officially announced about the beginning of restructuring program on December 18. CJSC "Bashneft -Invest" was created by demerging from ZAO "Sistema-Invest", whose shareholders were Systema JSFC and JSOC Bashneft" with stakes in the authorized capital of 50.6 percent and 49.4 percent, respectively. In turn, 25.2 percent in the authorized capital of "Bashneft" belonged to the "Sistema-Invest " company. The Chairman of the Board of Directors of Bashneft Felix Yevtushenko said earlier that the reorganization scheme aimed at elimination of cross-shareholdings of Bashneft and the completion of the company's withdrawal from non-core businesses.